A brief introduction to the FMA FMA stands for the Financial Market Authority, and in New Zealand it is the organisation in charge of regulating the country’s financial markets. The role originally fell on the shoulders of the Securities Commission of New Zealand. Unfortunately, the Commission suffered a barrage of criticism between 2006 forex brokers regulated by fsafeds 2010, and struggled to enforce a sufficient level of regulation to protect consumers.
Cs apply to each of the offers. The FMA was formed in 2011, to try and put a stop to it all and bring a suitable level of order to the financial markets. Regulating Forex brokers was just one of its roles. A new bill that was passed gave the FMA powers that included issuing and revoking licences for all financial companies, regulating their business conduct, and supervising their work.
A further Act was passed in 2013 that expanded the FMA’s domain. Today, it has more tools and options to help in providing a safer environment for New Zealand’s investors and anyone else involved in the financial markets. What kind of regulation is imposed by the FMA? Following its formation in 2011, the FMA was provided with the much-needed tools to help it repair New Zealand’s reputation with regard to financial dealings. Previous years had seen a number of scandals and mishaps that severely damaged its reputation and left a number of people very much out of pocket. Introducing FMA Forex brokers was considered to be an important element of the improvements, because previously the weakly regulated market had allowed a number of people and organisations to get away with almost anything. Once the FM was introduced, companies offering financial services were forced to adhere to certain international regulations and to follow a code of conduct.